Question 1

In a bailment, in some circumstances, the dollar amount of liability for any loss or damage to bailed goods can be limited by

Accepted Answer

A)   common carriers.
B)   warehouse companies.
C)   ordinary bailees.
D)   all of the choices.E) A) and D)
F) None of the above D

Question 2

A finder of mislaid property obtains title to the goods.

Accepted Answer

A) True 
 B)False

Question 3

The legally protected rights and interests that a person has in anything of established value subject to ownership is

Accepted Answer

A)   accession.
B)   commonwealth.
C)   property.
D)   a bailee's lien.E) A) and B)
F) B) and C)

Question 4

Earth Farm arranges to have Fresh Express Inc., a common carrier, transport a load of almonds. Fresh Express will be liable for any loss or damage to the almonds

Accepted Answer

A)   under any circumstances.
B)   unless the carrier exercised reasonable care.
C)   unless the loss or damage is caused by a natural disaster.
D)   under no circumstances.E) A) and B)
F) B) and D)

Question 5

Kay and Lease-Away Inc. enter into a bailment involving the delivery of a moving van to Kay for her use. Unless stated otherwise, the agreement assumes that Kay will

Accepted Answer

A)   return the van.
B)   return the van or its equivalent.
C)   retain the van.
D)   none of the choices.E) All of the above
F) B) and C) A

Question 6

Because a warehouse company is a professional bailee, it is expected to exercise a high degree of care to preserve and protect bailed goods.

Accepted Answer

A) True 
 B)False  True

Question 7

Angie voluntarily transfers her prize-winning horse Beaux to Cady without consideration. Provided all of the requirements are met, this is acquisition of property by

Accepted Answer

A)   conversion.
B)   accession.
C)   possession.
D)   gift.E) A) and B)
F) C) and D)

Question 8

Leo borrows Mae's car to drive Nina to the airport. Considering the purpose of the bailment, Leo has the right to

Accepted Answer

A)   compensation from Nina.
B)   reimbursement from Mae for any parking costs.
C)   use the bailed property.
D)   none of the choices.E) A) and C)
F) B) and C)

Question 9

In a bailment for the sole benefit of the bailor, the bailee need not exercise even a slight degree of care in preserving the bailed property.

Accepted Answer

A) True 
 B)False

Question 10

A large sign at the entrance to Fitness Club states in bold red letters that "the club is not responsible for any loss due to theft." Most likely, with respect to limiting the club's liability, this sign is

Accepted Answer

A)   effective.
B)   not effective because it is against public policy.
C)   not effective because it is an exculpatory cause.
D)   not effective because an ordinary bailee cannot limit his or her liability.E) All of the above
F) A) and B)

Question 11

Fifi, an independent contractor and technical writer, has a computer in her office. She has a copyright on her most recent work, Guide to Coding. Her tangible personal property includes

Accepted Answer

A)   the computer.
B)   the copyright.
C)   the coding.
D)   all of the choices.E) A) and C)
F) B) and C)

Question 12

With respect to bailed goods, common carriers are absolutely-strictly-liable.

Accepted Answer

A) True 
 B)False

Question 13

A promise to make a gift tomorrow or next year is a gift.

Accepted Answer

A) True 
 B)False

Question 14

While hiking on Mountain Trail, Ness's camera falls from his pocket. He fails to notice its loss for a mile, and is then unable to find it. Ole finds the camera. Pau tries to take it from Ole. The party who can assert the best title to the camera is

Accepted Answer

A)   Ness.
B)   Ole.
C)   Pau.
D)   none of the choices.E) A) and B)
F) B) and C)

Question 15

A court may use the identity of the party who receives a benefit from an ordinary bailment to determine, with respect to the bailed property, the standard of

Accepted Answer

A)   negligence to be applied to the deal.
B)   proof required to show loss or damage.
C)   care required of the bailee.
D)   quality expected by the bailee.E) A) and B)
F) C) and D)

Question 16

A bailment cannot arise without the bailor's voluntary delivery of the property to the bailee.

Accepted Answer

A) True 
 B)False

Question 17

In a bailment, strictly liable for any loss or damage to bailed goods are

Accepted Answer

A)   common carriers.
B)   warehouse companies.
C)   ordinary bailees.
D)   all of the choices.E) A) and B)
F) A) and C)

Question 18

On Demi's authorization, Engine Work Inc. repairs her car. She refuses to pay for the job. Engine Work can

Accepted Answer

A)   keep the car and place a lien on it until Demi pays.
B)   undo the repair and keep the car.
C)   use the car for any purpose.
D)   all of the choices.E) B) and C)
F) None of the above

Question 19

Property would have little value if

Accepted Answer

A)   virtually all property were digital.
B)   the law did not define the rights of property owners.
C)   property could be delivered to another without a transfer of title.
D)   the preservation of property was the primary reason for government.E) All of the above
F) C) and D)

Question 20

When accession occurs with a property owner's consent, there is not likely to be a dispute about who owns the property.

Accepted Answer

A) True 
 B)False

Exam 41: Personal Property and Bailments

In a bailment, in some circumstances, the dollar amount of liability for any loss or damage to bailed goods can be limited by

Correct AnswerverifiedD

A finder of mislaid property obtains title to the goods.

Correct AnswerverifiedShow Answer

The legally protected rights and interests that a person has in anything of established value subject to ownership is

Correct AnswerverifiedShow Answer

Earth Farm arranges to have Fresh Express Inc., a common carrier, transport a load of almonds. Fresh Express will be liable for any loss or damage to the almonds

Correct AnswerverifiedShow Answer

Kay and Lease-Away Inc. enter into a bailment involving the delivery of a moving van to Kay for her use. Unless stated otherwise, the agreement assumes that Kay will

Correct AnswerverifiedA

Because a warehouse company is a professional bailee, it is expected to exercise a high degree of care to preserve and protect bailed goods.

Correct AnswerverifiedTrue

Angie voluntarily transfers her prize-winning horse Beaux to Cady without consideration. Provided all of the requirements are met, this is acquisition of property by

Correct AnswerverifiedShow Answer

Leo borrows Mae's car to drive Nina to the airport. Considering the purpose of the bailment, Leo has the right to

Correct AnswerverifiedShow Answer

In a bailment for the sole benefit of the bailor, the bailee need not exercise even a slight degree of care in preserving the bailed property.

Correct AnswerverifiedShow Answer

A large sign at the entrance to Fitness Club states in bold red letters that "the club is not responsible for any loss due to theft." Most likely, with respect to limiting the club's liability, this sign is

Correct AnswerverifiedShow Answer

Fifi, an independent contractor and technical writer, has a computer in her office. She has a copyright on her most recent work, Guide to Coding. Her tangible personal property includes

Correct AnswerverifiedShow Answer

With respect to bailed goods, common carriers are absolutely-strictly-liable.

Correct AnswerverifiedShow Answer

A promise to make a gift tomorrow or next year is a gift.

Correct AnswerverifiedShow Answer

While hiking on Mountain Trail, Ness's camera falls from his pocket. He fails to notice its loss for a mile, and is then unable to find it. Ole finds the camera. Pau tries to take it from Ole. The party who can assert the best title to the camera is

Correct AnswerverifiedShow Answer

A court may use the identity of the party who receives a benefit from an ordinary bailment to determine, with respect to the bailed property, the standard of

Correct AnswerverifiedShow Answer

A bailment cannot arise without the bailor's voluntary delivery of the property to the bailee.

Correct AnswerverifiedShow Answer

In a bailment, strictly liable for any loss or damage to bailed goods are

Correct AnswerverifiedShow Answer

On Demi's authorization, Engine Work Inc. repairs her car. She refuses to pay for the job. Engine Work can

Correct AnswerverifiedShow Answer

Property would have little value if

Correct AnswerverifiedShow Answer

When accession occurs with a property owner's consent, there is not likely to be a dispute about who owns the property.

Correct AnswerverifiedShow Answer

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